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Description

Description:A statement of cash flows is required as part of a full set of financial statements. It must be prepared in conformity with generally accepted accounting principles (GAAP). The statement is not required if the financial statements are prepared on a basis of accounting other than GAAP. The statement must be included in both annual and interim financial statements. This course discusses the requirements of ASC 230, Statement of Cash Flows (ASC 230-10-45-18 and 45-27). ASC 958-205, Not-for-Profit Entities: Presentation of Financial Statements, requires the statement of cash flows for not-for-profit entities.

Learn Objectives:

1. Recognize the use of and the objectives for a statement of cash flows.2. Identify between operating, investing, and financing activities, and how different cash variables will affect the statement of cash flows.3. Identify differences for preparation of the statement of cash flows using the direct method vs. the indirect method.4. Understand and calculate how changes and transactions in asset and debt accounts affect the cash flows of a company.

Topics Covered:

Cash and Cash Equivalents

Reconciliation of Net Income to Cash Flow from Operations

Direct Method

Indirect (Reconciliation) Method

Gross versus Net Cash Flows

Operating Activities

Investing Activities

Financing Activities

Multiclassification

Noncash Investing and Financing Activities

Special Items in the Income Statement

Agency Arrangements

Hedging Transactions

Foreign Currency Cash Flows

Comprehensive Examples

Cash Flow Analysis

IFRS Differences Affecting the Statement of Cash Flows

Delivery Method: Online Interactive Self Study

Category: Accounting and Auditing

Field of Study: Accounting

Level: Basic to Intermediate

Prerequisites: Basic Accounting

Passing Score: 70%

NASBA: Yes, QAS Self Study

Author: Delta Publishing

ABOUT THE SUBJECT MATTER EXPERT:Dr. Jae K. Shim is Professor of Business at California State University, Long Beach,California. Dr. Shim received his MBA and Ph.D. degrees from the University of California at Berkeley (Haas School of Business.) He has co-authored over 50 professional business books and has been a consultant to commercial and nonprofit organizations for over 30 years.

Course Objectives

1. Recognize the use of and the objectives for a statement of cash flows.2. Identify between operating, investing, and financing activities, and how different cash variables will affect the statement of cash flows.3. Identify differences for preparation of the statement of cash flows using the direct method vs. the indirect method.4. Understand and calculate how changes and transactions in asset and debt accounts affect the cash flows of a company.5. Recognize some IFRS differences in reporting the statement of cash flows.

Topics Covered

Cash and Cash Equivalents

Reconciliation of Net Income to Cash Flow from Operations

Direct Method

Indirect (Reconciliation) Method

Gross versus Net Cash Flows

Operating Activities

Investing Activities

Financing Activities

Multiclassification

Noncash Investing and Financing Activities

Special Items in the Income Statement

Agency Arrangements

Hedging Transactions

Foreign Currency Cash Flows

Comprehensive Examples

Cash Flow Analysis

IFRS Differences Affecting the Statement of Cash Flows

Regulatory Information

Statement of Cash Flows - Reporting and Analysis - National Association of State Boards of Accountancy (NASBA)

Prerequisites

Basic Accounting

Subject Matter Expert

Dr. Jae K. Shim is Professor of Business at California State University, Long Beach,California. Dr. Shim received his MBA and Ph.D. degrees from the University of California at Berkeley (Haas School of Business.) He has co-authored over 50 professional business books and has been a consultant to commercial and nonprofit organizations for over 30 years.